too many places get hacked and you get leaked.
When I was younger I worked for the US IRS
I am in my sixties so I do not work any more. I have a small pension because of my US government work.
I have been notified that My IRS account was hacked by un named hackers.
If the IRS can be hacked and info for more than 100,000,000 people is compromised what good is kyc.
I just wish kyc was not required unless you were over say 10,000 usd.
Sad to hear that something like IRS can get hacked. That data breach can be really dangerous, as it contains networth and addresses of people.
I agree, KYC is a double edged sword, and i don't like it too much